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Full text of "Shipping Practice"

64                               SHIPPING PRACTICE

then the person who exercises the lien is consequently out of
pocket, and has little recourse for the balance to the late
owner of the goods.

On the other hand, if after the lien is settled, and all the
charges are paid, there should be a balance over, then this
amount remains the property of the cargo owner, and must
be handed to him.

Once a shipping agent has put the cargo into the carrier's
hands, he loses possession of such goods, and consequently
upon failure of his consignees to make payment, is debarred
from exercising his right. He may, however, make recourse
by requesting the carrier to stop such goods or return them
in the event of freight or charges not being paid. As the
majority of agents send then* documents forward through
banking houses this practice of stoppage in transitu (see
p. 60) is generalty rare, the banking house holding the
documents, or exercising their lien, until charges have been
^paid to them.

Maritime liens are somewhat different from common law
or possessory liens, usually being incurred for services
rendered, or for injury caused, or again for breaches of
foreign laws resulting in fines made upon the ship.

These maritime liens travel with the object upon which
they are enforceable (i.e. ship, tackle, or cargo), irrespective
of the number of persons through whose hands the object
may pass. Reference to a bill of sale for ships will show
there the term "free of incumbrances," which sets out that
there is no mortgage, or lien outstanding upon the ship.
If a purchaser of tonnage buys a ship and does not see that
such a clause is in his bill of sale, he may find there is a
maritime lien upon the vessel, in which case he, as the
present owner, must make settlement or risk seizure.

A holder of a bottomry bond, or a respondentia bond, has
a Hen on the ship and cargo respectively, for the settlement
of his charges.

A bottomry bond is the document used when a loan is
made to the master, in exchange for which and by way of
security he pledges his vessel, that hi the event of her